Analysis of Perishable Products Sales Using Bayesian Inference

It is very important to make sales forecasting in the supply chain management. In our previous post, we considered different approaches for time series forecasting. The most important thing is to make a decision how many products should be supplied into each store. If we can predict future sales precisely, the amount of products we need to supply is equal to our precise prediction. But in the real life we cannot make precise prediction, we rather can predict product consumption value with some confidential interval.